Q3 2024 EPS Estimates for Chipotle Mexican Grill, Inc. Raised by Wedbush (NYSE:CMG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Analysts at Wedbush boosted their Q3 2024 earnings estimates for Chipotle Mexican Grill in a research report issued to clients and investors on Thursday, April 25th. Wedbush analyst N. Setyan now expects that the restaurant operator will earn $13.81 per share for the quarter, up from their previous forecast of $13.61. Wedbush has a “Neutral” rating and a $3,200.00 price objective on the stock. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $55.08 per share. Wedbush also issued estimates for Chipotle Mexican Grill’s FY2024 earnings at $56.08 EPS, Q1 2025 earnings at $15.74 EPS, Q3 2025 earnings at $17.25 EPS and Q4 2025 earnings at $16.98 EPS.

Several other brokerages have also commented on CMG. Wells Fargo & Company boosted their price target on Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Barclays lifted their target price on shares of Chipotle Mexican Grill from $2,400.00 to $2,865.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft raised their price target on Chipotle Mexican Grill from $3,400.00 to $3,600.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Robert W. Baird upped their price objective on Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Finally, Argus raised their price objective on shares of Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3,137.12.

Chipotle Mexican Grill Stock Down 1.7 %

Chipotle Mexican Grill stock opened at $3,156.12 on Monday. Chipotle Mexican Grill has a 12 month low of $1,768.64 and a 12 month high of $3,241.42. The stock has a market cap of $86.70 billion, a price-to-earnings ratio of 67.35, a price-to-earnings-growth ratio of 2.58 and a beta of 1.28. The business has a 50 day moving average price of $2,846.57 and a two-hundred day moving average price of $2,454.12.

Chipotle Mexican Grill’s stock is scheduled to split on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be distributed to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, beating the consensus estimate of $11.63 by $1.74. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion.

Insider Activity

In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 6,406 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $3,185.92, for a total transaction of $20,409,003.52. Following the completion of the sale, the chief executive officer now owns 22,669 shares of the company’s stock, valued at approximately $72,221,620.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Scott Boatwright sold 1,100 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $3,190.16, for a total value of $3,509,176.00. Following the completion of the sale, the chief operating officer now owns 2,412 shares of the company’s stock, valued at $7,694,665.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian R. Niccol sold 6,406 shares of Chipotle Mexican Grill stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $3,185.92, for a total transaction of $20,409,003.52. Following the completion of the sale, the chief executive officer now owns 22,669 shares of the company’s stock, valued at approximately $72,221,620.48. The disclosure for this sale can be found here. Insiders sold a total of 15,812 shares of company stock valued at $48,554,701 over the last three months. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CMG. Steph & Co. acquired a new position in Chipotle Mexican Grill in the 1st quarter valued at $29,000. Fortitude Family Office LLC bought a new stake in shares of Chipotle Mexican Grill during the 4th quarter worth $32,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Chipotle Mexican Grill in the fourth quarter valued at about $37,000. ICA Group Wealth Management LLC bought a new position in Chipotle Mexican Grill in the fourth quarter valued at about $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the 3rd quarter valued at approximately $38,000. 91.31% of the stock is owned by institutional investors.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.